Iovance Biotherapeutics (NASDAQ:IOVA) Trading Up 9.4% - Should You Buy?

Key Points

• Iovance Biotherapeutics saw a trading increase of 9.4%, with shares reaching a high of $2.12 before closing at $2.16, although trading volume was significantly lower than usual.
• Several analysts have downgraded the stock; Truist Financial shifted its rating from "buy" to "hold," contributing to a consensus "Hold" rating among analysts.
• The company's recent earning report showed a loss of ($0.33) per share, falling short of estimates, with revenue of $59.95 million compared to a forecast of $67.14 million.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Get Free Report)'s share price traded up 9.4% during trading on Tuesday . The stock traded as high as $2.12 and last traded at $2.16. 1,886,368 shares changed hands during trading, a decline of 86% from the average session volume of 13,725,319 shares. The stock had previously closed at $1.97.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial downgraded shares of Iovance Biotherapeutics from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. Baird R W downgraded shares of Iovance Biotherapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Wells Fargo & Company lowered their target price on shares of Iovance Biotherapeutics from $18.00 to $14.00 and set an "overweight" rating on the stock in a research report on Friday. UBS Group downgraded shares of Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $17.00 to $2.00 in a research report on Friday, May 16th. Finally, HC Wainwright lowered their target price on shares of Iovance Biotherapeutics from $32.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Iovance Biotherapeutics has a consensus rating of "Hold" and an average price target of $11.90.

Iovance Biotherapeutics Price Performance

The company's 50 day moving average is $2.23 and its two-hundred day moving average is $3.19. The firm has a market cap of $765.31 million, a P/E ratio of -1.72 and a beta of 0.88.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.04). Iovance Biotherapeutics had a negative net margin of 161.44% and a negative return on equity of 52.87%. The company had revenue of $59.95 million during the quarter, compared to the consensus estimate of $67.14 million. Research analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Institutional Investors Weigh In On Iovance Biotherapeutics

Several hedge funds have recently made changes to their positions in IOVA. GF Fund Management CO. LTD. bought a new position in Iovance Biotherapeutics during the fourth quarter worth about $47,000. One68 Global Capital LLC bought a new position in Iovance Biotherapeutics during the fourth quarter worth about $74,000. Quarry LP bought a new position in Iovance Biotherapeutics during the fourth quarter worth about $74,000. Fullcircle Wealth LLC bought a new position in Iovance Biotherapeutics during the fourth quarter worth about $74,000. Finally, Accredited Investors Inc. bought a new position in Iovance Biotherapeutics during the first quarter worth about $33,000. Institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.

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